Tag: corps

Five U.S. Marines were missing after two Marine Corps aircraft collided in mid-air and crashed into the sea off the coast of Japan on Thursday, in what U.S. officials said may have been a refueling exercise gone wrong. A series of emergency landings and parts falling from U.S. military aircraft have highlighted safety concerns. The Marine Corps said in a statement the incident occurred around 2 a.m. local time in Japan (1700 GMT Wednesday) about 200 miles off the Japanese coast. The two aircraft

Five U.S. Marines were missing after two Marine Corps aircraft collided in mid-air and crashed into the sea off the coast of Japan on Thursday, in what U.S. officials said may have been a refueling exercise gone wrong.

Japan’s defense ministry said its maritime forces had so far found two of the seven Marines who were aboard the aircraft — an F/A-18 Hornet fighter jet and KC-130 Hercules — at the time of the incident.

One was in a stable condition at Marine Corps Air Station Iwakuni, while the second had been found about 10 hours after the collision and brought aboard a Japanese military vessel, the ministry said. No other details about the second Marine were known, a ministry spokesman said.

Search and rescue efforts for the remaining five continued.

The incident adds to a growing list of U.S. military aviation accidents around the world in recent years, prompting hearings in Congress to address the rise.

The Military Times reported earlier this year that aviation accidents jumped nearly 40 percent from fiscal years 2013 to 2017. At least 133 service members were killed in those incidents, it said.

U.S. military accidents are a sensitive topic in Japan, particularly for residents of the southern prefecture of Okinawa, which is home to the bulk of the U.S. presence in the country. A series of emergency landings and parts falling from U.S. military aircraft have highlighted safety concerns.

“The incident is regrettable, but our focus at the moment is on search and rescue,” Japanese Defense Minister Takeshi Iwaya told a news conference. “Japan will respond appropriately once the details of the incident are uncovered.”

The Marine Corps said in a statement the incident occurred around 2 a.m. local time in Japan (1700 GMT Wednesday) about 200 miles off the Japanese coast.

The two aircraft had launched from Marine Corps Air Station Iwakuni and were conducting regular training when there was a “mishap,” the Marine Corps said.

The Marine Corps did not elaborate on the nature of the incident. A U.S. official, speaking on condition of anonymity, said it occurred during a refueling exercise.

Officials who spoke to Reuters on condition of anonymity were unsure precisely how the mishap occurred but none suspected foul play. An investigation has begun.

Apparel maker VF Corp.’s recent earnings report may not have been a perfect quarter, but it was by no means a “lose-10-percent-of-your-value-in-a-single-day” quarter, CNBC’s Jim Cramer said on Monday. “VF Corp. was a victim of great expectations,” the “Mad Money” host told investors. “I think the stock is a bargain here, trading at less than 19 times next year’s earnings estimates. The core of the growth story, the strength of Vans and direct-to-consumer, is still very much intact.” And the comp

Apparel maker VF Corp.’s recent earnings report may not have been a perfect quarter, but it was by no means a “lose-10-percent-of-your-value-in-a-single-day” quarter, CNBC’s Jim Cramer said on Monday.

What really happened to make VF Corp.’s stock lose nearly 11 percent in a single trading day was the fact that the Vans and North Face parent reported earnings in the heart of a panic, setting off selling at any hint of weakness, he said.

“VF Corp. was a victim of great expectations,” the “Mad Money” host told investors. “I think the stock is a bargain here, trading at less than 19 times next year’s earnings estimates. The core of the growth story, the strength of Vans and direct-to-consumer, is still very much intact.”

And the company’s impending spin-offs of its underperforming denim brands, Wrangler and Lee, could unlock even more value for VF Corp., Cramer said.

“I’d be a buyer down here, as I think the stock has become a steal at these levels, certainly, and will return to excellent growth once it sheds the jeans and goes on in the rapidly expanding businesses that we like so much,” he said.

The same North Carolina beaches have been renourished over and over. Carolina Beach has been replenished 31 times since 1955. The Corps’ initial assessment of North Carolina beaches after Hurricane Florence found some damage, but it wasn’t major. In recent years, FEMA has supplied most of the county’s beach nourishment funds through post-disaster grants. When asked about sea-level rise and the long-term sustainability of beach nourishment, Smith said there was “a lot of difference of opinion” ab

As lawmakers consider disaster relief in the wake of Hurricane Florence, projects to rebuild North Carolina’s shrunken shorelines are likely to get a healthy chunk of government money.

To their advocates, these so-called beach nourishment initiatives are crucial steps in buffering valuable oceanfront properties from storm damage and boosting local economies that rely on tourism.

But such projects replenish the same vulnerable areas again and again, and disproportionately benefit wealthy owners of seaside lots.

Moreover, pumping millions of cubic yards of sand onto beaches can cause environmental damage, according to decades of studies. It kills wildlife scooped up from the ocean floor and smothers mole crabs and other creatures where sand is dumped, said Robert Young, a geology professor at Western Carolina University.

In the Rockaways in New York, where beaches have been rebuilt repeatedly, “the only foraging shorebird you typically see is a seagull with a french fry in its mouth,” he said.

The U.S. has spent some $9 billion to rebuild beaches since 1923, a Western Carolina University database shows. Federal, state and local governments have spent more than $828 million to restock beaches in North Carolina alone since 1939, with much of that money coming from the Army Corps of Engineers and the Federal Emergency Management Agency. In some cases, the Corps’ support consists of in-kind donations of sand dredged from other construction projects.

Newly nourished beaches suffer less erosion after storms than nonreplenished beaches. But the protection doesn’t last, as wind and wave damage chip away at the shore. The same North Carolina beaches have been renourished over and over. Carolina Beach has been replenished 31 times since 1955. North Topsail Beach, part of a barrier island northeast of Wilmington, has gotten fresh sand just about every year since 1997.

“This is literally a never-ending commitment,” Young said. “I think most people would probably agree, people in Kansas don’t have an interest in holding every beach in America in place.”

The Corps’ initial assessment of North Carolina beaches after Hurricane Florence found some damage, but it wasn’t major. In Carteret County, which receives sand but no money from the Corps, shore protection director Gregory “Rudi” Rudolph estimated they’ll need new sand on 70 percent of their 25-mile long beach. In recent years, FEMA has supplied most of the county’s beach nourishment funds through post-disaster grants.

Though the projects help beach economies overall, experts say federal funds favor predominantly white, high-income towns, and even more so the properties right along the beach. The value of erosion protection “decreases rapidly as you move in from the beachfront,” said Mark Mauriello, a former commissioner of New Jersey’s environmental agency.

A ProPublica analysis of 16 North Carolina communities directly behind beaches that have received federal funds shows they’re 94 percent white on average; a quarter of owner-occupied housing in these areas is worth more than $500,000 (compared with 7 percent in North Carolina as a whole).

One of the beneficiaries in North Carolina is Wrightsville Beach, a town of 2,500 that has had $51 million worth of beach projects since 1990.

Oceanfront homes in the town are worth millions. A $4.25 million, six-bedroom house for sale on Trulia boasts “180 degree views of the Atlantic Ocean” and is “tucked behind 200 feet of protective dunes.”

An analysis of county assessment data shows that residential properties in Wrightsville within approximately 250 feet of the beach are worth $500,000 more on average than homes in the city overall.

The Corps, tasked with managing flood risk across America, takes on engineering projects like building levees and renourishing beaches ostensibly because they prevent property damage from future disasters and lock valuable beaches in place. The Corps prioritizes projects that would prevent the most amount of damage per dollar spent. This tends to favor beach building in high-income communities full of pricey properties.

The Corps generally funds projects only when the expected benefit is 2.5 times as high as the project’s cost. Poor communities can’t meet that criteria, said Derek Brockbank, executive director of the American Shore & Beach Preservation Association. Brockbank’s group advocates for federal funding of beach nourishment and lobbied on Hurricane Sandy recovery legislation.

Andrew Kahrl, a history professor at the University of Virginia, said he couldn’t think of a single project that primarily benefited people of color. His research shows how the historically black communities that lived along the Carolinas’ coast were forced out by developers and federal infrastructure projects, including some built by the Corps.

Ultimately, the towns that get funding need to be politically connected and prosperous enough to carry some of the costs, he said.

Corps spokesman Gene Pawlik said the agency doesn’t use community demographics when considering which beaches to support, but it may consider how vulnerable populations such as the elderly and the disabled are affected by storm damage, he said in an email.

Beach projects are supposed to be supported, in part, by local funding. The first time around, the federal government usually pays 65 percent. Repeat applications are generally split 50-50 with the Corps.

A.R. Siders, an environmental fellow at Harvard University who studies coastal climate change and adaptation, said the program would be more sustainable if local governments paid a higher share of the cost. If those who benefit the most take on more of the financial burden, Siders said, it might encourage community leaders to enact zoning regulations or take other steps to reduce flood risk.

It’s gotten harder to pry funding from Congress during the regular appropriations process, which budgets $50 million to $70 million annually for beach nourishment, Brockbank said. But after major storms, massive relief bills can include many times as much money.

The post-Hurricane Sandy aid package included more than $5 billion for Corps repairs, and a significant portion went to beaches. A Corps spokesperson said the North Atlantic region has spent $1.5 billion so far on renourishment. In some cases, the Corps paid 100 percent of the costs.

Mauriello, the former state environmental commissioner, said the political calculus changes after storms: Beaches that wait year after year for money through the regular budget process suddenly receive Congress’ benevolence. According to the Corps, three-quarters of the $1.5 billion went to projects that were new or were only half-completed when the storm struck.

A 2015 study said oceanfront properties in New Jersey could lose up to a third of their property value if the federal government stopped subsidizing beach nourishment.

Emergency funding also comes from FEMA. Towns with previously replenished beaches can apply after major disasters to replace the sand lost in the storm.

In 2011, the town of Nags Head on the Outer Banks used local and county funds for a $36 million project. In 2016, Hurricane Matthew washed much of that sand away. So FEMA gave it $16 million to help replace that sand.

A FEMA spokesperson said the agency only funds projects that meet certain criteria: For example, communities that already receive money from the Corps are ineligible. When asked whether beach nourishment was an appropriate use of federal taxpayer dollars, the agency said its practices are based on disaster relief laws.

After Hurricanes Joaquin, Matthew and Irma, FEMA also gave a total of $3 million to Hilton Head Island, about 10 percent of what the South Carolina resort town needed, said Scott Liggett, the town’s director of public projects and facilities. The bulk of the money came from local funds. Liggett said Hilton Head has supported virtually all of its beach nourishment since 1993. The money comes from an accommodations tax that generates $6 million a year through hotels and seasonal vacation rentals and is sustainable at least through 2035, he said.

“I think we are truly unique,” Liggett said. “I know we are in this state, and maybe even in the East Coast.”

Hilton Head’s model is hard to follow. Debbie Smith, the mayor of Ocean Isle Beach, North Carolina, said her small town doesn’t have enough of a tax base to pay for beach projects, so they are “extremely” dependent on federal funds.

Ocean Isle has received $33 million worth of beach nourishment since 2001. The town of 650 has 4,000 housing units, so it relies on tourists and second homeowners. A 5 percent accommodations tax accounts for nearly half of the town’s general fund, she said, and about 25,000 visit the beach every summer.

When asked about sea-level rise and the long-term sustainability of beach nourishment, Smith said there was “a lot of difference of opinion” about global warming projections. “I’m not a scientist,” she said, echoing a favorite talking point of politicians who reject the scientific consensus on climate change.

Smith compared the vacationers in her town to visitors at national parks. “We have homeowners from almost every state in the union,” she said, so if the federal government funds those parks, why shouldn’t it help towns like Ocean Isle? Taxpayers “come and enjoy our beaches,” she said. “They need to help us maintain them for their enjoyment.”

The latest contract for 141 of Lockheed Martin’s F-35’s will come at a price tag of $11.5 billion, the lowest in the history of the weapons program. Meanwhile, the Marine Corps and Navy will spend $115.5 million and $107.7 million on their F-35B and F-35C aircraft, respectively. In the prior contract, the Air Force’s jet was priced at $94.3 million, the Marine Corps jet at $122.4 million, and the Navy $121.2 million. “Driving down cost is critical to the success of this program,” said Vice Admir

WASHINGTON — The Pentagon’s largest weapons supplier just cut a deal with the Defense Department for the next batch of F-35 Joint Strike Fighters — a program with an initial acquisition cost of $406.5 billion.

The latest contract for 141 of Lockheed Martin’s F-35’s will come at a price tag of $11.5 billion, the lowest in the history of the weapons program. Of the 141 aircraft, 91 will be used by the Air Force, Navy and Marine Corps and the remaining 50 will be used by international program partners and customers.

The Air Force, which is buying the lion’s share of jets, will spend $89.2 million for their F-35A’s. Meanwhile, the Marine Corps and Navy will spend $115.5 million and $107.7 million on their F-35B and F-35C aircraft, respectively. In the prior contract, the Air Force’s jet was priced at $94.3 million, the Marine Corps jet at $122.4 million, and the Navy $121.2 million.

“Driving down cost is critical to the success of this program,” said Vice Admiral Mat Winter, the executive officer for the F-35 program, in a statement. “This agreement for the next lot of F-35s represents a fair deal for the U.S. government, our international partnership and industry. We remain focused on aggressively reducing F-35 cost and delivering best value.”

The F-35, a fifth-generation stealth fighter jet, has become one of the most challenged programs in the history of the Department of Defense. The laundry list of setbacks includes faulty ejection seats, software delays and helmet-display issues.

Apparel maker VF Corp. reported first-quarter revenue and profit that beat Wall Street estimates on Friday and raised its full year earnings forecast, as demand for its high-margin Vans shoes soared. The Greensboro, North Carolina-based company’s total revenue rose 23 percent to $2.79 billion in the quarter ended June 30, beating analysts’ average estimate of $2.68 billion, according to Thomson Reuters I/B/E/S. VF said revenue from the company’s Vans shoe segment rose 35 percent in the quarter.

Apparel maker VF Corp. reported first-quarter revenue and profit that beat Wall Street estimates on Friday and raised its full year earnings forecast, as demand for its high-margin Vans shoes soared.

The Greensboro, North Carolina-based company’s total revenue rose 23 percent to $2.79 billion in the quarter ended June 30, beating analysts’ average estimate of $2.68 billion, according to Thomson Reuters I/B/E/S.

VF said revenue from the company’s Vans shoe segment rose 35 percent in the quarter.

Shares of the company, which hit a record high earlier in the week, rose 1 percent to $90.24 in pre-market trading on Friday.

The company raised its full-year earnings forecast range to $3.52 to $3.57 per share from a prior expectation of $3.48 to $3.53.

President Donald Trump declared Monday he will move to make a new branch of the military focused solely on space. The Pentagon and Air Force did not immediately respond to CNBC’s request for comment. “We have the Air Force, we’ll have the space force,” Trump said in March. As it turns out, the space force sounds a lot like the space corps legislation the Trump administration opposed last year. The space corps would have an area of responsibility that encompasses the vast expanse outside of the E

President Donald Trump declared Monday he will move to make a new branch of the military focused solely on space.

“I am hereby directing the Department of Defense and Pentagon to immediately begin the process necessary to establish a space force as the sixth branch of the armed forces,” Trump said during a meeting of the National Space Council.

“Our destiny beyond the Earth is not only a matter of national identity but a matter of national security,” Trump said.

The Pentagon and Air Force did not immediately respond to CNBC’s request for comment.

Hefloated the idea for the force as a part of his national security strategy on March 13, saying “space is a war-fighting domain, just like the land, air, and sea.” The president described then how he had originally coined the term as a joke, while discussing U.S. government spending and private investment in space.

“We have the Air Force, we’ll have the space force,” Trump said in March.

As it turns out, the space force sounds a lot like the space corps legislation the Trump administration opposed last year.

In the National Defense Authorization Act, the House Armed Services Committee proposed last June the establishment of a space corps, a new branch of the military that would fall under the command of the Air Force. This branch’s relationship to the Air Force would be similar to the Marine Corps’ ties to the Navy. The space corps would have an area of responsibility that encompasses the vast expanse outside of the Earth’s atmosphere.

At the time, the White House, the Air Force as well as Secretary of Defense James Mattis disapproved of creating a sixth branch of the military.

“I oppose the creation of a new military service and additional organizational layers at a time when we are focused on reducing overhead and integrating joint warfighting efforts,” Mattis wrote in a letter to the House and Senate armed services committees.

While the legislation passed the House, the space corps bid did not make it into the final defense authorization bill in November.

The addition of a service branch would be the first in 71 years. The Air Force is the nation’s youngest branch and was added shortly after World War II.

Clarification: This story was updated to clarify when the space corps was proposed. It was last June.

The most powerful helicopter ever fielded by the U.S. was just delivered to the Marine Corps. The CH-53K King Stallion aircraft touched down at Marine Corps Air Station New River in Jacksonville, North Carolina on Wednesday. The helicopter, which has been in development since 2006, will replace the Marine Corps’ nearly 40-year-old CH-53E Super Stallion fleet. The CH-53K is not only considered the most powerful but also one of the most expensive with an initial estimated unit cost of approximatel

The most powerful helicopter ever fielded by the U.S. was just delivered to the Marine Corps.

The CH-53K King Stallion aircraft touched down at Marine Corps Air Station New River in Jacksonville, North Carolina on Wednesday.

The helicopter, which has been in development since 2006, will replace the Marine Corps’ nearly 40-year-old CH-53E Super Stallion fleet.

Wednesday’s delivery is the first of an expected 200 aircraft from Sikorsky, a unit of Lockheed Martin. The CH-53K is not only considered the most powerful but also one of the most expensive with an initial estimated unit cost of approximately $122 million.

The new heavy-lift chopper can carry triple the weight of its predecessor at a colossal 27,000 pounds. With that type of lift capacity, the CH-53K can transport up to four Humvees more than 100 miles.

Each year, City Year Chicago recruits a corps of recent college graduates who sign up for a year of full-time educational service in urban areas. Corps members are eligible for subsidized housing and food, but not all take advantage of this option — roughly 60 percent. It’s a very competitive process to be selected as a City Year Chicago corps member, and we look for the best and the brightest. City Year Chicago’s 230 corps members are sent into the most economically challenged Chicago public sc

Four years ago I joined the board of City Year Chicago, an amazing nonprofit organization that is tackling both problems with remarkable success. Sound too good to be true? It’s not. City Year Chicago uses mentorship to enhance the educations and lives of tens of thousands of students, while making dangerous neighborhoods safer at the same time.

Each year, City Year Chicago recruits a corps of recent college graduates who sign up for a year of full-time educational service in urban areas. Although these young people only make $12,000 for the full year, the number of applicants vastly exceeds the number of available slots because of the altruistic nature of the mission. Corps members are eligible for subsidized housing and food, but not all take advantage of this option — roughly 60 percent. It’s a very competitive process to be selected as a City Year Chicago corps member, and we look for the best and the brightest.

City Year Chicago’s 230 corps members are sent into the most economically challenged Chicago public schools in teams of 8 to 10 people per school. These schools are typically in high-crime neighborhoods, with a vast majority of students of color. And within these resourced-strapped schools, City Year focuses only on the most “at risk” kids — students who may have one or both parents missing, who may have learning and/or behavioral issues or other external factors preventing success. Obviously, focusing on the toughest students in the toughest schools is a very heavy lift, because these are students who almost always fall through societal cracks.

Trump floated his idea for a theoretical new branch dubbed the “Space Force” while addressing an audience of service members Tuesday in San Diego, California. “We have the Air Force, we’ll have the space force.” As it turns out, the Space Force sounds a lot like the space corps legislation the Trump administration opposed last year. The space corps would have an area of responsibility that encompasses the vast expanse outside of the Earth’s atmosphere. At the time, the White House, the Air Force

A new branch of the military dedicated to the final frontier is not a novel idea – but it may now be gaining traction in Washington – thanks in part to President Donald Trump.

Trump floated his idea for a theoretical new branch dubbed the “Space Force” while addressing an audience of service members Tuesday in San Diego, California.

“Space is a war-fighting domain, just like the land, air, and sea,” Trump said. “We have the Air Force, we’ll have the space force.”

As it turns out, the Space Force sounds a lot like the space corps legislation the Trump administration opposed last year.

In June, the House Armed Services Committee proposed the establishment of a space corps, a new branch of the U.S. military that would fall under the command of the Air Force, in the National Defense Authorization Act, or NDAA. This latest military service would relate to the Air Force similar to how the Marine Corps serves the Department of the Navy. The space corps would have an area of responsibility that encompasses the vast expanse outside of the Earth’s atmosphere.

At the time, the White House, the Air Force and Secretary of Defense James Mattis disapproved of the idea to create a space corps.

“I oppose the creation of a new military service and additional organizational layers at a time when we are focused on reducing overhead and integrating joint warfighting efforts,” Mattis wrote in a letter to the House and Senate Armed Services Committees.

“We may even have a Space Force, develop another one, Space Force. We have the Air Force, we’ll have the Space Force.” “I said, ‘maybe we need a new force, we’ll call it the Space Force,’ and I was not really serious. “So think of that, Space Force,” Trump continued, “because we are spending a lot and we have a lot of private money coming in, tremendous. Rep. Mike Rogers, R-Ala., the biggest backer in Congress of a military space branch, said these directives represent progress.

President Donald Trump on Tuesday said his new national security strategy recognizes that space is a theater of war, and he floated the idea of creating a Space Force, a branch of the military that would operate outside of earth’s atmosphere.

“Space is a war-fighting domain, just like the land, air, and sea,” Trump told a an audience of service members at the Marine Corps Air Station Miramar. “We may even have a Space Force, develop another one, Space Force. We have the Air Force, we’ll have the Space Force.”

The president described how he’d originally coined the term as a joke, while discussing U.S. government spending and private investment in space. “I said, ‘maybe we need a new force, we’ll call it the Space Force,’ and I was not really serious. Then I said, ‘what a great idea,’ maybe we’ll have to do that,” Trump told the crowd of Marines.

“So think of that, Space Force,” Trump continued, “because we are spending a lot and we have a lot of private money coming in, tremendous. You saw what happened the other day, and tremendous success. From the very beginning, many of our astronauts have been soldiers and air men, coast guard men and marines. And our service members will be vital to ensuring America continues to lead the way into the stars.”

It was unclear whether the president was still joking by the time he finished his off script remarks about a Space Force. The White House did not respond to a request for comment.

But Trump is not the only political leader in Washington who is mulling the idea of a Space Force. In June of 2017, a contingent of House lawmakers proposed dividing the Air Force into two separate branches, one dedicated to aviation and a second, new branch dedicated to space ventures.

Language to create a new military branch called the Space Corps did not make it into the final national defense authorization bill in November, but there were several new directives included in the legislation that could facilitate the Space Corps plan in the future.

Rep. Mike Rogers, R-Ala., the biggest backer in Congress of a military space branch, said these directives represent progress. “This is just the first step,” he said in a statement at the time. “We will not allow the United States national security space enterprise to continue to drift toward a space Pearl Harbor.”